Boeing, Ruili Airlines Announce Commitment for 30 737 MAXs

Boeing, Ruili Airlines Announce Commitment for 30 737 MAXs

Tuesday, June 16, 2015 (8:06am)

LE BOURGET, France, June 16, 2015 -- Boeing [NYSE: BA] and Ruili Airlines today announced at the Paris Air Show that the airline has committed to purchase 30 737 MAXs with the financial support of AVIC International Leasing, amid a surge in China's passenger traffic.

LE BOURGET, France, June 16, 2015 /PRNewswire/ --Boeing [NYSE: BA] and Ruili Airlines today announced at the Paris Air Show that the airline has committed to purchase 30 737 MAXs with the financial support of AVIC International Leasing, amid a surge in China's passenger traffic.

The commitment, valued at $3.2 billion at current list prices, will be subject to the approval of the Chinese government and will be posted on Boeing's Orders & Deliveries website once all contingencies are cleared.

"Today's agreement demonstrates our ambition to grow from a start-up airline to a driving force in China's growing aviation industry," said Ma Zhanwei, president of Ruili Airlines. "With the competitive advantages offered by the 737 MAX, and the solid partnership with Boeing as well as aircraft leasing giants, we feel very confident in our ability to fulfill continuous growth."

Currently, Ruili Airlines operates 34 daily flights on 11 scheduled routes with a fleet of five Boeing 737 airplanes. According to its development plan, the start-up carrier will expand its fleet to seven aircraft by the end of this year and 26 by 2020.

"The development of Ruili Airlines over the past year is truly remarkable," said Ihssane Mounir, senior vice president of Sales for Northeast Asia, Boeing Commercial Airplanes. "We are honored to continue playing an important role in Ruili's long-term success with the addition of the 737 MAX. This airplane will provide market-leading fuel-efficiency, reliability and passenger comfort, enabling the airline to remain competitive well into the future."

Ruili Airlines obtained its public air transport enterprise business license from the Civil Aviation Administration of China (CAAC) in February 2014, marking the formal establishment of the carrier. The start-up airline is the first private carrier approved by CAAC after the regulator relaxed restrictions on new carriers in 2013.

Today's agreement from Ruili Airlines continues the momentum of the 737 MAX in the marketplace. The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

The 737 MAX will be 14 percent more fuel-efficient than today's most efficient Next-Generation 737s – and 20 percent better than the original Next-Generation 737s when they first entered service.